Indian Rupee Depreciates Against The U.S. Dollar

The Indian rupee depreciated against the U.S. dollar on Monday.

The local currency opened at 81.81, depreciating 11 paise against the greenback. It depreciated as much as 21 paise intraday to 81.91.

The rupee ended at 81.84 on Monday, compared with 81.70 at close on Friday.

"The U.S. dollar appreciated by almost 0.30% on Friday amid a rise in U.S. 10-year treasury yields and as investors continued to make bets on the Federal Reserve's interest rate hiking path," ICICI Securities said in a note. "Further, stronger than expected existing home sales data from the US supported dollar."

The rupee had hit a record low of 83.29 on Oct. 20.